Single-family starts remained flat in April as mortgage interest rates moved above 7% last month and builders continued to face tight lending conditions. Overall housing starts increased 5.7% in April
With mortgage rates averaging above 7% for the past four weeks per data from Freddie Mac, builder sentiment posted its first decline since November 2023. Builder confidence in the market
Over the first three months of 2024, the total number of single-family permits issued year-to-date (YTD) nationwide reached 241,311. On a year-over-year (YoY) basis, this is an increase of 25.9%
NAHB analysis of Census data shows that private residential construction spending was down 0.7% in March, after increasing 0.7% in February. It stood at a seasonally adjusted annual pace of
Builder sentiment was flat in April as mortgage rates remained close to 7% over the past month and the latest inflation data failed to show improvement during the first quarter
Over the first two months of 2024, the total number of single-family permits issued year-to-date (YTD) nationwide reached 155,236. On a year-over-year (YoY) basis, this is an increase of 38.4%
NAHB analysis of Census data shows that private residential construction spending rose 0.7% in February, the third month of gains in a row. It stood at a seasonally adjusted annual
As part of the recently published HBGI, new NAHB analysis of residential permit data shows that about a quarter of single-family construction takes place in coastal counties. Coastal counties, as
Pent-up demand, moderating interest rates, and a lack of existing inventory helped push single-family starts in February to their highest level since April 2022. Overall housing starts increased 10.7% in
A lack of existing inventory that continues to drive buyers to new home construction, coupled with strong demand and mortgage rates below last fall’s cycle peak, helped push builder sentiment
Over the first month of 2024, the total number of single-family permits issued year-to-date (YTD) nationwide reached 75,906. On a year-over-year (YoY) basis, this is an increase of 43.1% over
Led by larger urban metro markets, single-family growth rates are showing signs of a turnaround as moderating mortgage rates and a lack of existing inventory are contributing to a gradual
NAHB analysis of Census data shows that private residential construction spending rose 0.2% in January 2024, the second month of gains in a row. It stood at a seasonally adjusted
An expected impact of the virus crisis was a need for more residential space, as people use homes for more purposes including work. Home size correspondingly increased in 2021 as
NAHB’s analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates a slowing market for custom home building after a recent gain in market share. There
Single-family built-for-rent construction accelerated at the end of 2023, as builders sought to add additional rental housing in a market facing elevated mortgage interest rates. According to NAHB’s analysis of
Expectations that mortgage rates will continue to moderate in the coming months, the prospect of future rate cuts by the Federal Reserve later this year, and a protracted lack of
Over 2023, the total number of single-family permits issued year-to-date (YTD) nationwide reached 909,227. On a year-over-year (YoY) basis, this is 6.5% below the December 2022 level of 972,180. Year-to-date